February 7th, 2012 — Coin Collecting
If there are people in your life who you think would enjoy beginning coin collecting, then there are some great resources that can help.
Many websites assist parents and friends of those who are interested in beginning coin collecting to learn the basics about coins and what’s available. Once a person, including a child, is educated about coins, they may begin a fascinating hobby that will interest them well into adulthood.
What about the great site about starting a coin collection for four dollars? It’s a simple and fun way to get a child (or an adult) interested in starting a coin collection and excited about what they might find.
Simply collecting pocket change for several months can be another fun method for sharing the love of coins. Without examining it, dump your change into a jar or bucket every day for some time.
When you’ve collected a substantial number of coins, bring the beginning coin collection novice in and have them examine each coin. If you’ve got enough knowledge to help them identify unusual coins, then you can help them divide the promising from the not so promising.
If you don’t trust your expertise, use the simple rule of finding the unusual and looking them up. Look for very old dates, different fronts or backs of common coins, and unusual words on coins.
A beginning coin collecting activity of searching online or studying a basic coin collecting book is a great way to learn about coins and spark some interest.
The website for the U.S. Mint is a great site for the beginner, or even the more advanced collector. It has a wealth of information, news, history, games and cartoons about coin collecting, and even a “collector’s club” for those who are beginning coin collecting or are simply interested in learning about coins.
The MegaPenny Project is a great look at how you can focus your collecting. It has what may be the most in-depth look at a single coin that you can find online. The analysis of size, weight and comparisons makes the subject come to life.
The Ancient Coins for Education project offers teachers and others interested in educating children complete lesson plans centered on an “archeological simulation” where ancient coins become a learning tool once they are discovered by an educator.
Children will not only learn about coins, but will learn about archaeology and ancient life as well.
Another approach to beginning coin collecting is to choose a particular coin and do some in depth research with a child or new collector. The Morgan dollar, for example, is a fascinating coin with an interesting appearance and an unusual history.
There are two different types of Morgan dollars since the coins were struck in two different ways. The finishes are so strikingly different, it’s a pleasure for those beginning coin collecting to work with them.
There are other fun coins to introduce to a beginner, like the new Lincoln Rail Splitter penny. You might also begin with a study into the “heads” and “tails” of coins and how to tell the difference when the front has no portrait.
Photo Credits: hazm8
Originally posted 2009-06-05 05:51:10. Republished by Blog Post Promoter
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February 6th, 2012 — Buying and Selling Coins, Coin Collecting
Negotiation is one of the most important aspects of coin collecting, an aspect that few think about when jumping into the world of coin collection. Negotiation helps to ensure that you get the coin for the price that you want, even if the price has already dropped below the actual value of the coin.
There are some mistakes that even the most serious coin collectors can make when dealing with coin dealers. Knowing these mistakes can help you to avoid these mistakes. These are just a few of the many coin collecting negotiation mistakes that you should work to avoid when negotiating for your own coins.
Starting Too High
One of the many mistakes that some coin collectors make is starting their offer too high. If you make a bid on a coin that is too close to the original price, you are showing that you are practically willing to pay full price for the piece. While some are going to take your offer or work you up to a number closer to their initial price, others will simply say, “full price or no deal”. Starting too high simply shows that you are not too concerned about the price, and that you really want the coin. If a collector can tell that someone really wants a coin for their collection, they are less likely to budge on the price.
Starting Too Low
There is such a thing as an insulting offer – this is a mistake that far too many coin collecting individuals make. Coin dealers can be offended by offers that are far too low for the condition and value of the coin. They will simply refuse your offer, and will refuse any more negotiating. At that point, if you are unwilling to pay full price, you will not be sold the coin. Starting too low can completely ruin your chances of getting the price lowered.
Paying too Much
Some coins are simply not worth what they are being sold for. Some coin dealers and coin collectors will try to milk the coin for all that it is worth and push an unrealistic price. While some are willing to lower their prices to something resembling the value of the coin, others will stay too high. You need to know when to walk away from negotiations and leave the coin behind. Be sure to tell the individual why you are walking away – if you tell them the price is higher than the value and are knowledgeable about the coin, they may rethink their decision and lower their price.
There are some situations that are more suited for serious negotiations than others. Some of these negotiations will go smoothly, while others will result in you losing the coin that you are interested in. It is important for you to scope out each situation and think about the proper ways to approach negotiation. Understanding the mistakes that you could make will help you to avoid them, which can lead to successful and beneficial negotiations.
Photo Credits: shop boy
Originally posted 2011-01-12 03:53:17. Republished by Blog Post Promoter
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February 5th, 2012 — Buying and Selling Coins, Foreign Currency, Paper Currency, paper money
It can be easy for many to collect U.S. Currency, but somewhat difficult for these same people to collect foreign currency. Foreign currency provides an interesting spin to coin collecting and paper money collecting, but can be difficult for some to obtain. While some stores carry foreign currency on a regular basis, others do not.
There are a couple of different tips and tricks to follow if you are thinking about expanding your foreign currency collection. These are just some of the many different ways that you can expand your overall collection.
Travel
If you are trying to find coins from a specific location of the world, you may want to travel to that part of the world. If you are simply interested in starting a foreign currency collection, start to collect money from the places that you are visiting for different reasons.
It is much easier to find older coins and older pieces of paper currency of international origin when you are actually visiting international places. If you are thinking about traveling and thinking about picking up some coins you are going to need to bring extra money with you. Prepare for the extra expenses to ensure that you are not strapped for cash as you travel.
Talk to Friends Who Travel
If you have friends or work colleagues that travel internationally, talk to them about your coin collection needs. You may be able to give them money in hopes of finding some different coins or paper money in the area. If you are just starting your foreign currency collection, simply give them some money and ask them to exchange it when they arrive at their destination. This is a quick and easy way to get together all of the current currency of a country without having to leave the comfort of your home.
Budget
If you are looking to expand your foreign currency collection you need to set a budget. While some see a budget as restrictive, others see it as a way to make faster purchases. If you have a specific budget set for your foreign currency collection you are less likely to balk at a purchase. If you have the money in your budget for the coin or piece of paper money, you will act quickly to purchase it and add it to your collection. A budget will help you to stay on track monetarily and will help you to expand your collection.
There are going to be plenty of other ways for you to expand your foreign currency collection and get the coins and paper money from around the world that you seek. These tips are for both the incredibly passionate and the slightly interested, as you can tailor your actions to your needs and your passion for foreign currency. Something like setting a budget is perfect for all levels of interest, while traveling is something that is more for those who are serious about their collection.
Photo Credits: Homini:)
Originally posted 2011-02-02 03:31:25. Republished by Blog Post Promoter
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February 4th, 2012 — Chinese Paper Money, paper money
The Chinese actually invented paper money, and the process of making it dates back to the early 9th century. Collectors are always seeking Chinese paper money due to its rich history and value, and this is a currency that is very unique. Although it is nearly impossible to find many of these notes outside of a museum, Chinese paper money is very popular and if you can get your hands on a note, you may have a treasure on your hands.
Chinese paper money was originally called “Flying Money” because it was so light, and if the owner did not hold on to it, it could easily blow away. The first notes were made from very delicate paper and they were used almost like IOUs. The owner would write down on the note what they were willing to pay for something, and the recipient could then take that to the bank to cash it. This bank draft system is very similar to our own checking system now.
Chinese paper money changed slightly when the Mongols took over. Instead of paper, the notes were then produced from silk and they were backed by a silk standard, much like the gold standard that would later be used in the Western hemisphere. This was a new idea, and in order to use the notes, the owner would have to actually deposit a set amount of silk yarn in the bank.
The silk form of Chinese paper money endured, and was used throughout the world. It has been discovered in far flung parts of the world by archeologists, but it is very rare to find any that are available to private collectors. After this period in Chinese history, the Ming Dynasty changed the currency, moving back towards paper.
The main problem they faced with this new Chinese paper money was that there was only one set denomination. This forced many to rely on coins since the notes were hard to use for smaller purchases. Due to these problems, paper money actually fell out of use and inflation rose. It wasn’t until modern times that paper money would return and become widespread.
We can thank the Chinese for our current paper money system and their innovations which are centuries old are still in use today. Collectors of Chinese paper money will typically be able to find notes for sale from other private collectors or at auctions. The advent of the internet made it easier to locate many of these notes and business is booming on online auction sites.
For those interested in collecting Chinese paper money, it is best to find notes that are in good condition. The most common are the ones from the Ming Dynasty period, but every once in awhile you can find older notes. The paper is very thin, so these notes should be treated with extreme care and sealed off from air and dust. They are an important part of monetary collectibles and should be treasured as such by collectors.
Photo Credits: kevindooley
Originally posted 2008-09-29 14:00:46. Republished by Blog Post Promoter
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February 3rd, 2012 — Coin Collecting
The world of coin collecting is a fascinating and interesting world that has plenty of quirks and distinctive traits. The world of coin collecting is slightly different than many other forms of collecting, catching may first-time collectors somewhat off guard.
If you are thinking about getting into coin collecting and becoming a coin collectors there are some customs that you will want to focus on. Understanding the customs of coin collecting will help you to smoothly join this interesting and unique community.
Respecting the Coins
One of the major customs of coin collecting comes in the form of the interactions that you have with others coins. You should respect the collections of others just as you would respect your own. Even if you are looking at the coins to purchase them, you should take care when trying to examine them.
If you want to take a closer look, be sure to ask the owner o the collection if you can pick up the coins. They may not want people to touch them, or they may want people to use gloves when touching any part of their collection. While you may not treat your coins the same way, you should respect their wishes and do as they ask.
The same rule goes for any coins that you may want to take a closer look at while at a coin collector shop. Talk to the coin collector of the shop and ask them for a closer look at the coins. They may provide you with gloves, tell you that they will hold the coins for you, or tell you that you are free to look at the coins as you wish.
Respecting the Negotiations
One of the most important customs in the world of coin collecting comes when you negotiate for a coin. It is important for you to be respectful and practice good etiquette when trying to negotiate a price down. While it is normal for people to negotiate prices down, there are some rules to follow. Do not try to lowball the price of the coin by too much – this can be disrespectful to the person selling the coin. Do not become upset or agitated when they will not give you the price that you are looking for. While you may firmly decline and step away from negotiations, anger will hurt your case and hurt any future negotiations with this individual.
It is possible to completely ignore some of these customs and still have a coin collection. You will simply find that it is difficult for you to command respect with your coin collecting peers. It is important for you to keep close connections and relations with those that you collect with. A failure to hold up some of these customs could lead to broken relationships – you may not longer have anyone to rely on for the different coins that you are interested in getting. Be sure to focus on these customs to ensure that you are respected in the coin collecting community.
Photo Credits: amy-wong.com
Originally posted 2011-01-26 03:25:02. Republished by Blog Post Promoter
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January 29th, 2012 — Buffalo Nickels, Nickels, US Coins
The popular US coin called the Buffalo Nickel was only minted from 1913 to 1938, but it quickly became one of the most popular coins and certainly one of the most collectible. The Buffalo Nickel used to be very easy to find throughout the 1960’s, but after that point, availability dropped off sharply. This meant that these coins became very sought after and to this day finding a Buffalo Nickel is certainly cause for celebration.
The actual design on the coin is not really a buffalo, but rather a depiction of the American Bison. The front of a Buffalo Nickel features the face of a Native American. The designer, James Earle Fraser, used three historic Native American chiefs as a composite for this design, and the buffalo was placed on the back. It was his intention to create a coin that would be similar in style to the coins produced during ancient times and little did he know that his creation would become this popular.
Early copies of the Buffalo Nickel carry the words Five Cents on the back, and these are very rare indeed. Production on this particular design was halted once it was observed that the raised lettering would wear off quickly. For collectors, it is truly remarkable to come across one of the coins that was minted during this period, particularly if the words are still intact. Once the new design was released, the lettering was lowered, but oddly enough, the raised lettering on the date was not.
This led to yet another similar problem, but this was never actually fixed. Most Buffalo Nickels no longer have their date intact due to this problem, so it can be complicated to determine when exactly the coin was minted. However, many collectors feel that this backstory adds to the overall charm of the coin.
There was one error in the design that only appears on the coins that were minted during 1937. For some reason, the buffalo design was changed slightly and on these coins, it appears as though it only has three legs. When you add this to the fact that the coin would stop being circulated in less than a year, the 1937 edition is probably the most sought after edition.
Even though these coins were mass produced between the period of 1913 to 1938, finding one today is very rare. It is estimated that approximately 1 in every 25,000 nickels is a Buffalo Nickel, but many collectors would lower that further. This means that there is a big demand for those that collect this type of coin and you can typically find them only at auction or if a private collector decides to sell their collection.
The Buffalo Nickel was the inspiration for another coin that was recently released. The American Buffalo is a gold coin that takes many of its design cues from Fraser’s original. Although this may have more face value, to the collector of Buffalo Nickels, there is no replacement for the original.
Originally posted 2008-08-19 05:00:07. Republished by Blog Post Promoter
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January 28th, 2012 — Coin Appraisal, Coin Collecting, Coin Collection Value
A coin collection can be an important part of your life, taking up much of your budget and your time throughout the years. Those who put time, energy, money, and heart into their collections should be doing everything that they can for their collection. Many fail to realize that one important way to take care of your collection is to document it.
There are two main reasons to completely document the collection that you have. The first reason it to make sure that you have a full record of your coins for personal use. You may have a large collection and can easily forget which coins you already have. Secondly, you need to work to document your collection in case of emergencies and for insurance purposes. The following tips will help you to document your collection.
Be Detailed With a Spreadsheet
It is important for you to provide as much detail as possible to your documentation when trying to document all of the coins that you have in your collection. You need to make sure you list the official name of the coin, any nicknames you may have for the coin, the amount you paid for the coin, the mint location of the coin, the year of the coin, and possibly the current value of each coin. The more information that you have, the better your documentation will be and the more useful the documentation will be.
Take Photographs of Each Coin
One of the best ways for you to document your coin collection is to take pictures of each of the coins. This will help you to better understand the mint of each coin as compared to others and provides a visual recording of your collection. For the most organized documentation possible, match up the coins in the spreadsheet with their images. Labeling each coin with a specific number and labeling each picture with the corresponding number will help to keep your organized and your coin collection well documented.
Have Values Appraised
If you are serious about coin collecting, you are serious about the value of your coins. Have your entire collection appraised to give yourself the ultimate documentation. You will receive a value for each coin and an overall value for your collection. Both numbers are important, as they will help you to understand your investments and how much your collection is worth overall. The more information that you have about each coin, the stronger your documentation is. Ask the person who is appraising your collection to list the coin with the value. This will make it easier for you to add the information into your own documentation after the appraisal is complete.
There are plenty of individuals who have large coin collections that are undocumented. They cannot tell you exactly what coins they have, an serious problem that could haunt them in an emergency. If you are serious about coin collecting and are serious about the coins that you have, take the time to correctly document your coin collection.
Photo Credits: celesteh
Originally posted 2011-05-11 03:44:07. Republished by Blog Post Promoter
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January 26th, 2012 — Buying and Selling Coins, Coin Collecting
Coin collectors lead interesting lives, dominated by their thoughts of history through the currency used at different times. These individuals are going to spend large amounts of their income, both happy and excited to spend the money when they find the coins that they want.
If you are thinking about getting into coin collecting, you should work to understand the life of a coin collector. It will help you to better understand what you are going to be doing and how much passion and thought you are going to have to put into your collection.
Budgeting
If you are going to get serious about coin collecting you are going to need to budget. Serious coin collector individuals have a budget to help ensure that they do not spend too much money on their collection. Many will also set specific budget for different coins that they want. It helps to make sure that they do not overspend for coins, as they do not want to spend far over the actual value of the coin. Budgeting is key to a successful collection, as it promotes and ensures longevity.
Cleaning and Displaying
Some people will try to get into serious coin collecting without thinking about the changes that are found. Many of these people are surprised to find out that they need to clean their coins and that they need to consider more serious and professional ways of displaying the coins. You need to clean all of the coins to make sure that they stay in mint condition – those who do not take care of their coins will find that the coins lose value and can be damaged. If yo are more serious about collecting, you are also going to want to display your coins. These displays take time to build and require some money to put together.
Negotiating
If you do not work on your negotiation skills when you work to collect coins, you will pay too much. Your collection will not be as successful, and may wind up costing you far too much money. Practice your negotiation skills and do not be scared to negotiation. Learning how to work prices down and knowing when to walk away when the other party will not back down are key aspects of serious collecting. You will spend less money and will increase the value of your own collection.
It is important for all to understand that they can turn coin collecting into anything that they want to. You can take this as seriously or as light-heartedly as you would like. Just know that this is a type of hobby that is incredibly easy to become immersed in. You should fully understand the life of a serious coin collector and think about whether or not this is the type of serious collecting you can handle. You may find that this is right up your alley, or that you want to take collecting less seriously and know what you what to avoid.
Photo Credits: rick
Originally posted 2011-05-18 03:46:15. Republished by Blog Post Promoter
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January 23rd, 2012 — Coin Collecting, Foreign Coin Collecting, Foreign Currency
There are some people who try to stick with the currency of their home country when coin collecting. They want the coins that they are looking for to be somewhat easy to find, and are proud of their country and cultural heritage. While this is commendable and can provide a strong collection, it is not the only type of currency you should look into. Foreign currency is an incredible type of currency to collect.
Foreign currency provides a wide variety of options and opportunities, giving you the range that you need to have a professional and interesting collection. Think about foreign currency and when it may be best for you to incorporate this type of money into your collection.
When You’re Bored
One of the best times to start collecting foreign currency while coin collecting is when you are bored with your collection. This is going to open up a completely new genre of collecting for you, helping to breathe life back into your collection. You will start to enjoy collecting again because you have fresh challenges and new and interesting coins to add to your collection. You may even start to add paper currency to your collections, giving you more depth that you collection has had before.
When You Have More Money
Most people will find that foreign currency collecting is more expensive than collecting currency from their home country. It can he harder to people to find coins from another country because the supply is overseas or held in a different country. The prices are simply raised because of shipping and rarity. If you have more money, you may want to consider adding this to your collection. You will have more funds, making it easier for you to add foreign currency to a collection without breaking the bank.
When You’re Traveling
The single greatest time to start collecting foreign currency is when you travel to a different country. You will be able to fill your collection with the current currency of the country, and will be able to find older foreign pieces easily. You will also have an incredible emotional connection to this part of your collection, because it will remind you of your vacation or trip. This is something that you will have to plan in advance for, however, as you will want to spend a decent amount of money at once. You will find rare foreign coins that you simply will not find in your home country when you travel.
For some people, a few pieces of foreign currency are all that is needed to rod out a collection. For others, a full section devoted to currencies from other countries is the perfect addition. Take a look at your collection and think about your coin collecting as a whole. Could it benefit from coins from other countries? Could paper money from other countries add detail to a one dimensional collection? The more thought that you put in, the better that your collection will turn out.
Photo Credits: oceandesetoiles
Originally posted 2011-05-06 09:49:40. Republished by Blog Post Promoter
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January 20th, 2012 — Buying and Selling Coins, Coin Collecting, world coins
There are many different ways that you will be able to enjoy yourself whenever you have free time. One of the different ways that people have been finding to be quite a lot of fun is to choose all of the different ways that you will be able to collect money. You can choose between paper and coin collecting whenever you choose to collect money. You will also be able to choose between the different currencies of the world. This includes all of the different kinds of world coin collecting that you will be able to enjoy.
In order to be able to enjoy world coin collecting, there are a few things that you will need to know about. Among the different things that you will need to know about is that you will need to know about the currencies for the different countries you want to collect from. You will also need to know something about the history of each kind of coins. Of course, you will also need to know the characteristics of the coins you are looking to collect. This will help you to be able to get everything that you will need so that you will be able to have the best collection you can have.
Learn about the Currency
The first thing that you will need to know about whenever you are looking to get started with world coin collecting is that you will need to know about the currency itself. This means that you will need to know about the different amounts that have been created as well as what these amounts are worth in terms of the items that they can buy. This is important to know in the current market as well as whenever the coin was first printed.
Learn about the History
Every coin has a history. When you are involved in world coin collecting, there is a lot of history that you will need to learn. This is the reason why so many of the people that get involved in it will stick to one country or another. It is simply too much to learn all of the history of all of the coins. You will be able to find out about the history whenever you are looking in places like online, in books or through the different collectors. This will help you to be able to pass along the history to those who buy from you as well as to understand the value of the coins better.
Learn about the Characteristics
There are many different characteristics that you will need to know about when involved with world coin collecting. To get everything that you will need, you will be able to draw on what you know about the history of the coin as well as the changes which have been made. This will help you to know whenever you will be able to get more for the different coins that you are trying to sell and buy.
Photo Credits: Ancient Art
Originally posted 2011-09-21 09:02:00. Republished by Blog Post Promoter
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